posted on October 28, 2000 04:37:25 PM new
I am a verified paypal business user. No problems as of yet, but I am concerned after reading about "reverse deposits", and frozen accounts.
I THOUGHT paypal protects it's verified users from fraud. Do they, or don't they?
Their policy states:
Seller Protection Guarantee
X.com also wants to protect our sellers against charge backs due to fraud and we plan to continue this policy. However, in order for us to absorb this major source of risk and expense, we need our sellers to play by a few simple rules. Here they are:
Sellers must be Verified in order to qualify for the Seller Protection Guarantee.
Please retain reasonable proof-of-delivery from a service that can be tracked
online. Most carriers provide this service.
Please do not accept payment for a single purchase from multiple PayPal accounts.
Please do not ship internationally until X.com releases international payments
(coming soon) and a list of approved countries.
As long as you abide by these rules, X.com's Seller Protection Guarantee states that you
will always be protected against charge backs due to fraud.
So, if you are "protected", WHY am I still seeing complaints of restricted and frozen accounts along with "reverse deposits" taken from a paypal users BANK?
Does Paypal "protect" you via freezing your account?
posted on October 28, 2000 07:26:01 PM new
It's hard to say right now. PayPalDamon - a representative said that they have finally installed the functionality for freezing just a transaction instead of the whole account - but then he qualified it by saying that they would still freeze entire accounts depending on the circumstances, but did not specify those circumstances when asked.
As far as whether the chargeback protection is worthwhile, I suppose it depends on whether having it's worth it, considering that they transaction will be frozen for an indeterminate amount of time while you have to spend time proving that you followed all the rules, plus you must also do the same thing for anything that a customer tries to claim with PayPal's buyer protection plan.
Personally at this point, I don't consider PayPal to be trustworthy enough to use for payment. It is quite evident to me that the company considers your account to be their money, not yours, unless you can prove otherwise, and while they may have adequately provided service to lots of customers, there's too many other business out there to take a chance on them.
posted on October 28, 2000 08:03:27 PM new
Hi kidsfeet.
I also have a verified Paypal account... Premier now cos they squeezed it out of me, lol
I have had no probs whatsoever with any Paypal transactions and still swear by them but I really have no idea what actual action they take to 'protect' it's users.
